Open DeFi: Risk Management Notification Protocol by Binance, Orbs & Moonstake

Finally available for DeFi investors from tomorrow onwards, the renowned Defi.org Accelerator – a Joint Venture project co-created by Orbs, Binance and Moonstake – proudly announces the launch of their chain-agnostic Risk Management Notification Protocol for mobile devices.

This unique Open DeFi Notification Protocol comes to life to allow investors and DeFi users to manage their operations in the decentralized finance universe reducing their loss risks to a minimum especially during market volatility.

Open DeFi: Helping DeFi Traders Reduce Risk

The Open DeFi Notification Protocol permits users to set up any number of alerts for different DeFi apps.

Orbs, the public blockchain platform, announced the launch of the Open DeFi Notification Protocol, a key application product especially created to assist users with unlimited free mobile notifications for impactful on-chain events.

This unique Open Notification Protocol was developed within the DeFi.org organization, co-created by the Orbs blockchain platform, Binance crypto exchange and Moonstake crypto wallet provider.

The Defi.org Accelerator was conceived primarily to develop further creative policies and the necessary tools towards the next level of innovation in decentralized finance, by providing liquidity, support and validation within the ever growing DeFi global ecosystem.

The recently announced Open DeFi Notification Protocol publicly available from tomorrow is basically an event-aggregator of contributions from community members that records significant events.

These events include smart contract creations and upgrades, blockchain governance votes, blockchain accumulated pending rewards, cryptocurrency price swings, prominent liquidations, stop losses, and more.

DeFi users like traders or liquidity providers, by accessing this type of data, can better manage their asset portfolios with superior tools to foresee and react to impactful events. The Open DeFi Notification Protocol allows a secure management by risk reduction, unarguably valuable in volatile market periods.

All DeFi projects can choose to differentiate themselves from competition by providing its customers with unlimited free mobile notifications of key sensitive information. All these Defi platforms need to do is integrate with Github for 30 minutes.

Orbs’ co-Founder Tal Kol describes the product in his own words,

“Transparency is a hallmark of blockchain, yet reliable mobile notifications that can aid the DeFi community are virtually nonexistent…our talented team has created a user-friendly protocol that functions almost like a reactive DeFi assistant, alerting users to the possibility of impending liquidations, significant price swings, contract upgrades and the like. We are positive it will make a huge impact.”

Initially the beta version of the Open DeFi Notification Protocol relies on a centralized node for tracking and display of the significant events recorded.

Orbs is working towards the launch of an updated improved version very soon that will rely on the decentralized Orbs network of independent nodes.

The beauty behind this announcement is that users will be able to set up an unlimited number of notifications linked to a variety of DeFiapplications, all of it integrated on a single open-source interfase comprising several dApps architecture frontends.

No previous registration is required, defi users will simply need to download the mobile app “DeFi Notifications” for iOS or Android and further scan their QR address in MetaMask (or the QR position in their app’s UI).

To make it even easier, in the Orbs’ official YouTube channel there is a tutorial video of this new DeFi Notification Protocol working with Sushi as an example.

Tal Kol added,

“The great thing about the Protocol is that it can work with emerging DeFi projects. All that’s required is the implementation of a simple JavaScript web3 class, to extract the notification from the on-chain data. This is then contributed via PR to the Protocol Github repo.”

Orbs Makes Connections Happen

The public blockchain platform Orbs was specifically designed to grant mass DeFi applications the integration with EVM-based L1 and L2 blockchains such as Ethereum, Binance Smart Chain (BSC), Polygon, Solana and Avalanche.

The decentralized Orbs protocol, powered by their ORBS native token, is operated by a public network of permissionless validators upon a PoS (proof-of-stake) consensus.

Source: https://blockonomi.com/open-defi/